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-   -   10% penalty (https://www.askmehelpdesk.com/showthread.php?t=337709)

  • Apr 4, 2009, 08:18 AM
    hrpuff1
    10% penalty
    I took my 401k instead of rolling it over and paid the 10% penalty, do I get to count that as part of the taxes I paid on my tax forms?
  • Apr 4, 2009, 08:30 AM
    Perito

    Wouldn't that be nice?
  • Apr 4, 2009, 08:57 AM
    MukatA

    Yes, you count it as part of taxes you paid.

    You will report 401K withdrawal as income and attach form 5329.
    Read Your U.S. Tax Return: Elective Deferrals 401(k) Plans

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